Turkish trade deficit widens to $12.5 billion

Ankara, Jun. 23, (dpa-AFX/GNA) – Turkey’s foreign trade gap increased in May from the previous year as imports rose faster than exports, the Turkish Statistical Institute said on Friday.

The trade deficit widened to $12.5 billion in May from $10.7 billion a year ago. In April, the trade deficit was $8.7 billion.

Exports rose 14.4% annually in May, and imports surged 15.5%.

Excluding energy products and non-monetary gold, the foreign trade shortfall was $5.9 billion in May.

On a seasonally and calendar-adjusted basis, both exports and imports climbed by 1.3% and 9%, respectively.

GNA